Educause Steps In to Save New Media Consortium

Educause has submitted a $55,000 offer to acquire the assets of the now defunct New Media Consortium, court documents reveal.

The $55,000 offer, if accepted, would see Educause acquire the NMC’s trademarks, website, membership and subscriber lists, as well as its flagship Horizon Project, which produced reports on the future of education technology.

The NMC, which abruptly ceased operations at the end of last year, owes more than half a million dollars to its creditors. The nonprofit filed for Chapter 7 bankruptcy in December.

Sheri L. Carello, a court-appointed trustee for the NMC’s estate, said that other potential buyers had expressed interest in the group’s assets, but that Educause’s offer was “the highest and best” to date. A court hearing to review and potentially approve the bid (pending no better offer) will be held Feb. 14.

Bryan Alexander, a futurist, educator and writer, as well as longtime collaborator with the NMC, wrote on his blog that the offer was a “bold and generous move” by Educause. “They are playing the white knight, stepping up to rescue assets that many in the ed tech world value,” he said.

It is not known what Educause intends to do with the intellectual property it may acquire. As Alexander noted, Educause could perhaps relaunch the Horizon Project under a new name. Alexander also raised questions about what might happen to the NMC community -- might they be invited to join Educause? Could Educause form a new organization?

John O'Brien, CEO and president of Educause, confirmed that Educause had submitted a bid for the NMC's assets but did not expand on his organization's plans for these assets. "This is just the first stage in what could be an extended process, which we will be happy to discuss at its conclusion," he said. "We welcome the continued conversation within our community."

Continue reading at: https://www.insidehighered.com/news/2018/02/06/educause-plans-buy-assets-bankrupt-new-media-consortium